Yes Bank turns ex-stock split in the ratio of 5 for 1; shares hit new high
Since July 3, the bank
announced the stock split plan the stock outperformed the market by surging 29%
against 3.5% rise in Sensex
LATSET
NEWS : Yes
Bank hit a new
high of Rs 383, up 2% on BSE in early morning trade after the stock turned
ex-stock split in the ratio of 1:5 with effect from today.
The board of Yes Bank on July 26, 2017 had approved stock
split in the ratio of 5 for 1, i.e. sub-division of 1 equity share of face
value of Rs 10 each fully paid up into 5 equity shares of Rs 2 each fully paid
up.
The bank has fixed Friday, September 22, 2017 as record date
for determining the eligibility of shareholders, with regards to sub-division
equity shares.
In order to facilitate affordability of the company’s shares
for investors at large and to enhance the liquidity of the company’s equity
shares in the stock market, the most of companies proposed to bring down the
nominal face value of equity shares.
Since July 3, the bank announced the stock split plan the
stock has outperformed the market by surging 29% from Rs 299 (adjusted to
sub-division of shares). On comparison, the S&P BSE Sensex was up 3.5%
during the same period.
In past two years, Yes Bank has rallied 150% against 24% rise
in the benchmark index.
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